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#1927148 - 05/28/14 05:56 PM ABL Account Set Up
TryingtoComply Offline
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Joined: Apr 2013
Posts: 2,211
The West
Looking for some instruction on how to properly establish a deposit account for a customer with an asset-based line of credit. The account officer stated that signers on the account will be bank officers and authorized signers for the client. How should this account be titled? Any other tips?
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TryingToComply
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#1927302 - 05/28/14 09:02 PM Re: ABL Account Set Up TryingtoComply
TryingtoComply Offline
Diamond Poster
Joined: Apr 2013
Posts: 2,211
The West
Do we need a Deposit Account Control Agreement for an arrangment like this?
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#1927399 - 05/29/14 01:00 PM Re: ABL Account Set Up TryingtoComply
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,393
Galveston, TX
You need to visit with your legal counsel. This is not a compliance issue.
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